VALLOUREC : Vallourec widens its premium offer for the offshore oil & gas market with the production of umbilicals' tubes

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New Burgundy plant receives first order

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Boulogne-Billancourt, 24 September 2013 - Vallourec, world leader in premium tubular solutions, announces the launch of a new offer for the offshore oil & gas market: the production of welded stainless steel tubes to be fitted into umbilicals[1]. Although they do not transport any produced oil or gas, umbilicals are a key component in a subsea installation. They are used to connect the equipments on the seabed to a control station at the surface. Thanks to an innovative manufacturing process, tubes for umbilicals produced at the new Vallourec Umbilicals plant in Venarey-Les Laumes (Côte-d`Or, France) offer superior strength and mechanical properties compared to products currently available on the market. Elaborated with TOTAL as Technical Sponsor, this new product widens Vallourec`s offer of premium solutions for offshore operations.

Unequalled performances
The continuous production process developed by Vallourec ("rolled and longitudinally welded tubes") capitalizes on the knowhow acquired by the Group in the production of long welded tubes.  It allows for the production of tubes of 10 to 30 km with a minimum number of butt welds, reducing "weak" points, and an unmatched welding quality of the whole. Vallourec`s tubes will be inserted in the umbilicals alongside other components (electric cables, carbon rods, optical fibers). They will carry utility fluids necessary for production operations. Vallourec`s tubes are thinner hence the umbilicals they will be integrated in lighter and easier to install at sea. Their superior strength and mechanical properties improve the overall resistance of umbilicals in operational conditions.

A new premium market
After having obtained its ISO 9001 and Bureau Veritas certifications, Vallourec Umbilicals has become an approved supplier of TOTAL, and is currently in the qualification process by its clients, the main umbilicals manufacturers. The plant is already working on a prototype order; actual industrial ramp-up is expected to take place in 2014.

Dominique Richardot, Managing Director of Vallourec`s Pipe Project and SURF (Subsea, Umbilicals, Risers, and Flowlines) activities, declared: "By offering a product with unique characteristics to the market, we are positioning ourselves to meet the growing demands of deepwater and ultra-deepwater offshore fields. This new premium activity reinforces Vallourec`s position on the subsea construction market and our ability to provide integrated solutions."

This new product completes the range of integrated solutions offered by Vallourec for subsea construction -which also includes line pipe, risers, and welding services, and gives the Group access to a new, highly premium market.
 

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[1] Made of small-diameter tubes, cables and/or optical fibers, umbilicals are used for transporting fluids, supplying power, and transmitting information.


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 23,000 employees, integrated manufacturing facilities, advanced R&D and a presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the energy challenges of the 21st century.

Listed on the NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System (SRD), Vallourec is included in the following indices: MSCI World Index, Euronext 100 and CAC 40.

In the United States, Vallourec has established a sponsored Level 1 American Depositary Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). Parity between ADR and a Vallourec ordinary share has been set at 5:1.

www.vallourec.com
 

For further information, please contact
Press relations
Caroline Philips
Tel: +33 (0)1 41 03 77 50
caroline.philips@vallourec.fr
  Investor relations
Etienne Bertrand
Tel: +33 (0)1 49 09 35 58
etienne.bertrand@vallourec.fr
 
 
 
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